When did the National Housing Bank start its operations?

a. July, 1982

b. July, 1988

c. April, 1980

d. March, 1971

ANSWER: July, 1988

Explanation:

The National Housing Bank, the apex institution of housing finance in India, is a wholly-owned subsidiary of RBI.

It started operating from 9th July, 1988 with an authorized paid-up capital of RS. 450 crore.

It was set up under the National Housing Bank Act, 1987.

NHB registers, regulates and supervises Housing Finance Company (HFCs), keeps surveillance through On-site & Off-site Mechanisms and co-ordinates with other Regulators.

NHB – National Housing Bank

Founded - July 9, 1988

Headquarters - New Delhi, India

Current Head - Shri Sriram Kalyanaraman (MD & CEO)